Ouster, Inc. (OUST) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, Ouster, Inc. (OUST) reached $10.98, with a -1.17% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.04%. Elsewhere, the Dow saw an upswing of 0.76%, while the tech-heavy Nasdaq appreciated by 1.03%.
Coming into today, shares of the company had gained 6.11% in the past month. In that same time, the Computer and Technology sector lost 13.91%, while the S&P 500 lost 6.74%.
The investment community will be closely monitoring the performance of Ouster, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 13, 2024.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.34 per share and a revenue of $92.2 million, indicating changes of +62.26% and +10.71%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Ouster, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Ouster, Inc. holds a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 176, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ouster, Inc. (OUST) : Free Stock Analysis Report